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Sep 27, 2012
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s numbers are how well it's doing at playing defense. we know that part of their strategy is discounting their products, hoping they can create somewhat of a moat around them and give them time to get blackberry 10 out. seems that defensive strategy is working better than a lot of people expected. their average selling price is not down as much as people expected. a number of analysts expected them to do worse than that $2.5 billion number. they got up to 2.9. what we're seeing here is the the defensive strategy. it remains to be seen now that the iphone 5 is out and the samsung galaxy iii is out in the channel. >> all right, john. thank you so much. stock up big, 14% higher on r.i.m. up next, europe is a mess. the u.s. and china are slowing down. where is global growth coming from? bob hormats is with me. >>> then, it seems like a number of americans are learning a bad habit from washington. we'll tell you which one next. e, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get h
s numbers are how well it's doing at playing defense. we know that part of their strategy is discounting their products, hoping they can create somewhat of a moat around them and give them time to get blackberry 10 out. seems that defensive strategy is working better than a lot of people expected. their average selling price is not down as much as people expected. a number of analysts expected them to do worse than that $2.5 billion number. they got up to 2.9. what we're seeing here is the the...
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Sep 30, 2012
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there's that and the defense budget. we are undertaxed. need to raise more revenues. do that by broadening the base and lowering rates and getting more revenue in. democrats need to compromise on entitlement reform and republicans need to compromise on taxes. again, it's not hard to figure out. it's just getting the political well encouraged to get the job done. >> they just can't come together. good to have you on the program. >> nice to see you. >> thank you so much. sheila bair joining us. >>> up next, do things go better with coca cola? the company's ceo thinks so. i'll talk to the head of the soft drink giant about bringing clean water to those around the globe. >>> well, this week in new york saw the eighth meeting of the clinton global initiative, the annual gathering of leaders and bold-faced names to address some of the globe's most challenging dilemmas. many in the developing world lack access to clean drinking water. ceo of the world's largest beverage company, coca cola, and the inventor of the segue let me in on their plans to quench that thirst. >> so ma
there's that and the defense budget. we are undertaxed. need to raise more revenues. do that by broadening the base and lowering rates and getting more revenue in. democrats need to compromise on entitlement reform and republicans need to compromise on taxes. again, it's not hard to figure out. it's just getting the political well encouraged to get the job done. >> they just can't come together. good to have you on the program. >> nice to see you. >> thank you so much. sheila...
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Sep 26, 2012
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that means spending on both defense programs and non-defense programs. >> right. >> i would agree that sequestration isn't the best way to do it, but we haven't come up with any other way to cut spending. spending has continued to go up and up and up and the deficit is rising right along with it. >> what about the jobs argument? some people say 1 million jobs are at stake. >> right. if jobs were all we cared about, 130 years ago there were a lot more people employed in the agricultural sector. if we were worried about jobs, we would ban mechanized tractors and whatnot and have people cut wheat by hand. the fact there are fewer people employed in the defense industry over the last few years, defense contractors have been making more money and cutting employment. why? because they're becoming more efficient. we like this when this happens in every other sector. in defense, for some reason, we want the pentagon to be a jobs program. i think most americans recognize that's not what it should be doing. it should be protecting us from harm and nothing more. >> can it do that with the cuts co
that means spending on both defense programs and non-defense programs. >> right. >> i would agree that sequestration isn't the best way to do it, but we haven't come up with any other way to cut spending. spending has continued to go up and up and up and the deficit is rising right along with it. >> what about the jobs argument? some people say 1 million jobs are at stake. >> right. if jobs were all we cared about, 130 years ago there were a lot more people employed in...
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Sep 28, 2012
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defense, health care, transportation. >> we're significantly underweight defense for that reason. a lot of the programs they're working on, you know, tank problems are probably not the most relevant products. it's like cold war technology. we're underweight defense. that seems like the obvious one. i haven't thought of too many other sectors. >> the best single acting group in a presidential year since 1950 are the defense stocks. they always do best in the fourth year. they have had a big run since june. might be time to take a little off the table there. there will be a psychological move out of these because of the sequestration, which comes from the latin word for hide. >> i knew you'd get one in there. thanks, guys. >> we'll see you soon. >> heading toward the close, 15 minutes left. the last closing bell before the end of the quarter. the dow down 49 points. that selloff a moment ago, never mind. >> never mind. coming up in the next hour, he's the prime minister of one of the wealthiest nations of the world. he controls what qatar invests in. my interview with him and what h
defense, health care, transportation. >> we're significantly underweight defense for that reason. a lot of the programs they're working on, you know, tank problems are probably not the most relevant products. it's like cold war technology. we're underweight defense. that seems like the obvious one. i haven't thought of too many other sectors. >> the best single acting group in a presidential year since 1950 are the defense stocks. they always do best in the fourth year. they have...
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Oct 1, 2012
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in the defense sector, there's a real opportunity for savings by reducing service contracts. they're at record high levels. you know, like any other business tightening its belt, reduce our cost for outside vendors. some of these things can be, "a" done more efficiently with oversight and fewer cost overruns but always just done more cheaply. >> why do you think this isn't being done now? >> everything we have in our report is actually a low-hanging fruit substantively, but politically we have no illusions that these are all easy. everybody's got their constituency they're going to support. so these are things -- we need leadership. we need people to say this is the right thing. evidence doesn't support continuing to spend money on the osprey which has a 6% effective rate in combat. we can't have our troops using equipment that doesn't work. let's stop paying for it. we can't give money to industries that are incredibly profitable. so let's stop just giving money to people who have land that used to be farmed. let's stop the programs we can no longer afford and don't pack a p
in the defense sector, there's a real opportunity for savings by reducing service contracts. they're at record high levels. you know, like any other business tightening its belt, reduce our cost for outside vendors. some of these things can be, "a" done more efficiently with oversight and fewer cost overruns but always just done more cheaply. >> why do you think this isn't being done now? >> everything we have in our report is actually a low-hanging fruit substantively,...
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Oct 1, 2012
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in his prepared remarks, a full-throated defense of what he's done policiwise in the wake of the big financial crisis. we're going to bring it to you live. the fed and strong manufacturing numbers out today have the market squarely in rarely mode. the dow right now up 124 points, 1 13,561. >>> let's go where the action is. at the nyse. sue herera. >> as we wait for ben bernanke to begin that q&a session, we have a big stock market rally on our hands the first day of the trading quarter, up 123 points right now. bob pisani's joining me now on the floor. you're up a little sigh of relief there. a rally that's carried over to the u.s. but are the underpinnings here at home strong enough? >> new order xoen fent norcompo ism moved the market up in addition to follow-through from europe. the dow industrials were off the high 2-1 advancing to declining stocks. it was 3-1 earlier but you could see we've dipped a little just in the last 15 minutes or so. in terms of what's moving here, well, right across the board, pretty nice rally here. energy materials, industrials, even consumer staples p
in his prepared remarks, a full-throated defense of what he's done policiwise in the wake of the big financial crisis. we're going to bring it to you live. the fed and strong manufacturing numbers out today have the market squarely in rarely mode. the dow right now up 124 points, 1 13,561. >>> let's go where the action is. at the nyse. sue herera. >> as we wait for ben bernanke to begin that q&a session, we have a big stock market rally on our hands the first day of the...
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Sep 27, 2012
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he talked about his tax cut plan defensively. he was pulling back on it saying you're not going to get a big tax cut here because every dollar we give in you rate reduction we'll take away a deduction from you. that's not the way it to sell a tax cut. it's putting more money in people's pockets and be inning incentives. i want to see mitt romney that is much more bold and much more confident in his program. i wonder whether mitt romney even believes in the tax cut or whether it was just forced upon him. >> that is a key question. i'll go to phil mus musser on that. steve moore oig writes that the new income numbers come out and we've lost about $4500 during obama's presidency. in the month of august, we lost another 500 bucks. the reason i cite that is if you have more take home pay from lower middle class tax rates which is in romney's plan if he believes in it, that gets people through the income problem. that's why this thing should work. now, how is it that mitt romney can't get that message down? how is it that he can't expl
he talked about his tax cut plan defensively. he was pulling back on it saying you're not going to get a big tax cut here because every dollar we give in you rate reduction we'll take away a deduction from you. that's not the way it to sell a tax cut. it's putting more money in people's pockets and be inning incentives. i want to see mitt romney that is much more bold and much more confident in his program. i wonder whether mitt romney even believes in the tax cut or whether it was just forced...
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Oct 1, 2012
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he is offering a full tloetd defense of his policies. we're going to bring it all to you live. >>> markets in rally mode. but can you trust them? we're going to look at where opportunity may lie in the faurt quart fourth quarter. >>> and inside facebook. inside the strategic changes the company has made internally since that troubled ipo. i'll see you at the top of the hour. now back to more "fast half." >>> look forward to seeing the fed chairman. >>> pops and drops. biggest movers in midday trading. sprint is dropping 3%. >> talk about a turnaround story. this one i've been in for a while. i trimmed around the $5 area. still long 20% of the position. when you talk about returning to profitability in the next couple years that gets investors excited. it used to be about m and armt. now it is just about returning to profitability. i'll still in the trade. >> citigroup did get a downgrade today. nevertheless the stock is higher by 2% -- actually now 1%. >> it's pulling back a little bit. it is all about valuation. they talk about the stoc
he is offering a full tloetd defense of his policies. we're going to bring it all to you live. >>> markets in rally mode. but can you trust them? we're going to look at where opportunity may lie in the faurt quart fourth quarter. >>> and inside facebook. inside the strategic changes the company has made internally since that troubled ipo. i'll see you at the top of the hour. now back to more "fast half." >>> look forward to seeing the fed chairman....
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Sep 26, 2012
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his collection of companies includes defense contractors that do a lot of work for the pentagon. ranking at number two is not if finance. he's in housing. bob perry. he's the founder of perry homes in texas. he supports the economic freedom fund. he's locked in a heated money battle in texas with our number one democratic donor. we are not going to tell you who it is now. you'll find out later as well as who the number 1 mystery is on the republican side on closing bell. >> is it within finance? >> it is not within finance. on the democratic side it's an independent associated with the democrats but a guy i hadn't heard of until i did this story. it will be a surprise to many viewers. >> in the meantime, is there evidence that the money they are giving is working? >> this is the fascinating debate. remember when the super pac issue came and the supreme court ruled and citizens united? there was a fear money would take over the election. some say it has had little effect since romney isn't plowing ahead especially in the swing states. others on the republican side and the super pa
his collection of companies includes defense contractors that do a lot of work for the pentagon. ranking at number two is not if finance. he's in housing. bob perry. he's the founder of perry homes in texas. he supports the economic freedom fund. he's locked in a heated money battle in texas with our number one democratic donor. we are not going to tell you who it is now. you'll find out later as well as who the number 1 mystery is on the republican side on closing bell. >> is it within...
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Sep 28, 2012
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osama bin laden was dead so we could slash defense and pull out of afghanistan early and leave iraq entirely and now the narrative is in tatters. they had a huge personal political interest in maintaining that narrative. it was wrong to begin. it is wrong now and the president himself, even the day after his own director of counterintelligence, matthew olson said it is a terrorist act. this guy went on "the view" of all places to repeat the lie. >> and it is worse than that. he went before the u.n. i read his speech. he had three fat paragraphs mr. obama did trying to sell the video/spontaneous demonstration. still, that was, what, this past tuesday. >> correct. >> and remember, he and mrs. clinton went on tv in pakistan still apologizing for the video. they have so much invested in the notion that if we reach out, don't offend these people we will get along fine. it is ludicrous. it's a lie and the president of the united states needs to come before the american people and explain to them what did he know? when did he know it? and why has he and senior officials been lying. >> is jack jacob
osama bin laden was dead so we could slash defense and pull out of afghanistan early and leave iraq entirely and now the narrative is in tatters. they had a huge personal political interest in maintaining that narrative. it was wrong to begin. it is wrong now and the president himself, even the day after his own director of counterintelligence, matthew olson said it is a terrorist act. this guy went on "the view" of all places to repeat the lie. >> and it is worse than that. he...
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Oct 2, 2012
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defensive nature to the sectors that were doing well today. the classic defensive plays, health care and utilities leading the way followed by everybody's favorite these day, telecom, because of that dividend play. the financials are squeaking out a gain at the close. peter costa, what do you make of this late comeback? >> we've seen the last few days where the market's been up and sold off towards the end of the day. this is just a reversal. i think towards the end of the day we've seen a lot of reversals. you know, short positions being covered. >> the spanish, we believe they'll eventually ask for help from the european central bank. >> get it over with. >> what does the market do when that finally happens? >> well, i think there will be a sigh of relief. one of the question marks that's been overhanging the market for the last six months will be answered. i would imagine it would be not fully answered, but it will be answered. i think the market will probably rally after that. i guess we'll go to earnings season and follow it through there
defensive nature to the sectors that were doing well today. the classic defensive plays, health care and utilities leading the way followed by everybody's favorite these day, telecom, because of that dividend play. the financials are squeaking out a gain at the close. peter costa, what do you make of this late comeback? >> we've seen the last few days where the market's been up and sold off towards the end of the day. this is just a reversal. i think towards the end of the day we've seen...
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i'm worried about one defensive back out there and that's the chart which indicates that union pacific won't be able to hold on to the ball. otherwise i'll keep the ball myself. maybe dump it off into cash. remember, you don't always need to pass it. the bottom line, i have now completed my check down of fourth quarter opportunities based on the third quarter and i've limited it to one player -- the wide receiver that's union pacific. i'll go to him to pick up a quick six points or maybe more. after the break i'll try to make you more money. >>> coming up, war on the web? the internet's tech giants have been locked in a battle for search supremacy but after poaching one of google's top guns is it finally time to say yes to yahoo!? should you search for a different stock? cramer decides. >>> later, industrial strength? prologis is at the center of the global supply chain operating a portfolio of distribution centers, warehouses and commercial real estate around the world. tonight, cramer is talking to the ceo to get a real read on the economy just ahead. >>> all coming up on "mad money.
i'm worried about one defensive back out there and that's the chart which indicates that union pacific won't be able to hold on to the ball. otherwise i'll keep the ball myself. maybe dump it off into cash. remember, you don't always need to pass it. the bottom line, i have now completed my check down of fourth quarter opportunities based on the third quarter and i've limited it to one player -- the wide receiver that's union pacific. i'll go to him to pick up a quick six points or maybe more....
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Sep 27, 2012
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if you looked at durables, even if you stripped out defense and transportation, it was still a very weak number. that was the third down month in a row we had seen on that. that's not a good sign. >> so are things worsening? >> in my view, they are. the employment situation is as bad as it was in 2009. i like the employment to population ratio. that has only moved one-tenth of a percent higher since its worst print in 2009. >> yet, you don't want to get in front of this train that is the stock market with the central bank easing. >> i would disagree with that. don't fight the fed. you should be fighting the fed at this point. i look at double-digit returns. you don't get double-digit returns every day when you have these kinds of structural head winds ahead of you. we've been very actively doing what we can control, which is trimming portfolios into these rallies, taking risk off the table all year long. so when you say don't fight the fed, that's really a short-term phenomenon. >> really? >> to me it's a great opportunity. >> i don't know if ben bernanke -- he makes it sound like it's g
if you looked at durables, even if you stripped out defense and transportation, it was still a very weak number. that was the third down month in a row we had seen on that. that's not a good sign. >> so are things worsening? >> in my view, they are. the employment situation is as bad as it was in 2009. i like the employment to population ratio. that has only moved one-tenth of a percent higher since its worst print in 2009. >> yet, you don't want to get in front of this train...
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Sep 27, 2012
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right now, basically watching to see if rim's price cuts are working as a defensive measure. take a look at this, last quarter, the average selling price of a blackberry hardware was $212. that compares to $290 a year before and $299 a year before that. and you've got to consider the play book tablet to the extent it's selling at all is selling near 200 bucks. what is it going to take for rim to regain share? the blackberry rim has to be better. here is another issue few people are talking about these days. media tech. that's the chip company that nokia locked in on feature funs. after buying m-start earlier this year, they said they're coming out with chip sets allowing chinese manufacturers to cheaply enter the market. if it works, that's going to give rim nightmares in the emerging markets where it's been able to hang on until now. >> wow. are you still negative on rim? >> i am. it's all about moving forward in technology and they haven't had a new product in almost a year. it will be until the beginning of next year they have a new products with markets going 50% to 5%, i
right now, basically watching to see if rim's price cuts are working as a defensive measure. take a look at this, last quarter, the average selling price of a blackberry hardware was $212. that compares to $290 a year before and $299 a year before that. and you've got to consider the play book tablet to the extent it's selling at all is selling near 200 bucks. what is it going to take for rim to regain share? the blackberry rim has to be better. here is another issue few people are talking...
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Oct 3, 2012
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and secondly, he has to put barack obama on the defensive. a big challenge there for him because the two are mutually contradictory. >> we're just looking at pictures there of mitt romney sans jacket, so trying to prove that he is the man next door. this has been the whole way through the campaign. gretchen, it is obama's to lose because he is in the lead. what do you think we're likely to see in terms of the tone of the debate and where each candidate will try and push this conversation? >> you know, i think the one who wins this debate will be the one who brings the other out of their comfort zone. president obama will not want to talk about his record, so romney will have a challenge in that and he should. he should challenge obama, try to get him to talk about his record, talk about his policies and how they have or have not worked. i think they will talk a little bit about how they have not worked. if we really want to continue those policies for the next four years. at the same time, romney needs to go in and talk about what his policie
and secondly, he has to put barack obama on the defensive. a big challenge there for him because the two are mutually contradictory. >> we're just looking at pictures there of mitt romney sans jacket, so trying to prove that he is the man next door. this has been the whole way through the campaign. gretchen, it is obama's to lose because he is in the lead. what do you think we're likely to see in terms of the tone of the debate and where each candidate will try and push this conversation?...
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when you look at utilities and health care consumer staples, there's been tremendous bidding up of defensiveness in the face of this resilient move. we've actually positioned, in terms of mutual fund and separate accounts, back into bonds until this hesitation and corrective period ends. >> ron, you call this a romney rally today, don't you? >> i think there's going to be no way to get around it. that's the headline of the day. if you look at the in trade probabilities of who's likely to be elected, president obama last week or so peaked at a 76% probability. this morning, it was down to 66% probability. romney moved up 10 percentage points. dan loeb on facebook had put last week out a note that you ought to buy the romney futures because they were so depressed. i don't know how the money works in that thing, but he made ten points on the upside. >> wonder what the capital gains treatment is on that. >> that's a good question. >> rick santelli, i haven't even talked about march you draghi. he had an impact on the markets early on today, didn't he? >> he definitely did. if i look at interest rate
when you look at utilities and health care consumer staples, there's been tremendous bidding up of defensiveness in the face of this resilient move. we've actually positioned, in terms of mutual fund and separate accounts, back into bonds until this hesitation and corrective period ends. >> ron, you call this a romney rally today, don't you? >> i think there's going to be no way to get around it. that's the headline of the day. if you look at the in trade probabilities of who's...
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you're either on offense or defense, and last night barack obama was on defense. i was shocked we didn't hear about the 47%, they didn't hammer home the themes. he was searching at times for criticism on romney. romney kept him on the ropes. so issue after issue it was mitt romney on offense and the president on defense. >> try to dry some parallels, dan, to that debate between president bush and john kerry. kerry was largely seen at the time to have won at least debate number one. of course, we all know what eventually happened in that race. how much does last night move the polls, do you think? >> it will be interesting to see if it moves the polls. equally important, the psychology, fund-raising, all those aspects between now and -- re remember, this is not going well for him. next week will be the vice-presidential debate in which i think paul ryan will do quite well against joe biden. you could have the situation where they wrap up two debate victories before he gets back on the field. so whether the poll numbers move or not, we'll wait to see, buttal all the
you're either on offense or defense, and last night barack obama was on defense. i was shocked we didn't hear about the 47%, they didn't hammer home the themes. he was searching at times for criticism on romney. romney kept him on the ropes. so issue after issue it was mitt romney on offense and the president on defense. >> try to dry some parallels, dan, to that debate between president bush and john kerry. kerry was largely seen at the time to have won at least debate number one. of...
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that would let us cut defense spending. we would no longer need to spend hundreds of billions of dollars supporting other regimes. fourth, i would have the federal government take advantage of the low interest rate environment and issue $500 million in 30-year bonds to fix the nation's infrastructure. fifth, i would slap tariffs on goods made by countries. that would stop the endless parade of jobs migrating from our country to other countries. they have a ridiculous competitive advantage over us. six, i would insist there be a course in high school called money where kids could learn what money is, how to save, how to invest. people need education about the stock market. perhaps to find their own therapeutics. seventh, i would appoint a steven jobs memorial competitiveness czar to figure out how our businesses could be made more speft and find out what they need. not government handouts but trying to get educated engineers to help these companies. i would reappoint ben bernanke as chairman of the federal reserve. if it wer
that would let us cut defense spending. we would no longer need to spend hundreds of billions of dollars supporting other regimes. fourth, i would have the federal government take advantage of the low interest rate environment and issue $500 million in 30-year bonds to fix the nation's infrastructure. fifth, i would slap tariffs on goods made by countries. that would stop the endless parade of jobs migrating from our country to other countries. they have a ridiculous competitive advantage over...
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military and defense industry presence. mary jo is still with us. is mitt romney in pennsylvania because he thinks there's a chance? how important is winning pennsylvania to him? >> pennsylvania is one of several battleground states in this election and it comes town really to a handful of states including ohio and florida and of course pennsylvania and virginia. the undecided vote so far is very small, but let's keep in mind at this stage ronald reagan in 1980 was running about five points behind jimmy carter. by mid october, he was 13 points behind and yet he won the election by nine points. >> what do you think will be that catalyst for swinging things in mitt romney's favor? >> a strong debate by mitt romney. there are three of them coming up. a misstep by the president. some sort of international incident to thinks that might come out about benghazi, et cetera. i mean, six weeks is a very long time. we have 39 days to go. >> it's fascinating how much pressure seems to be on mitt romney including put by himself and his own camp on these debates.
military and defense industry presence. mary jo is still with us. is mitt romney in pennsylvania because he thinks there's a chance? how important is winning pennsylvania to him? >> pennsylvania is one of several battleground states in this election and it comes town really to a handful of states including ohio and florida and of course pennsylvania and virginia. the undecided vote so far is very small, but let's keep in mind at this stage ronald reagan in 1980 was running about five...
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the minus 1.6 number on x transportation i'm guessing another big decline in defense, defense aircraft was down and where is defense overall? it looks like defense capital goods down 40% so this is a thing that has to do with maybe we're seeing some of the -- >> is this the fiscal cliff? >> it wouldn't be the face fiscal cliff as much as what is happening in afghanistan and iraq, and the drawdown. i have to call the pentagon and see if they'll give us a general idea on spending. we have been chronicling over the last 11 years the complete inability of the government to count what the government spends and/or hires, it's been a source of amazing frustration. i get they have trouble with the private sector but you'd think they'd get the hiring of government officials or government workers to be right. on the claims number, a little bit towards the things are getting a little better number. rick, i didn't see the continuing claims number. some economists were looking for that gauge for how they do on what their sense of unemployment is as well. >> i'll run and check it while you keep talk
the minus 1.6 number on x transportation i'm guessing another big decline in defense, defense aircraft was down and where is defense overall? it looks like defense capital goods down 40% so this is a thing that has to do with maybe we're seeing some of the -- >> is this the fiscal cliff? >> it wouldn't be the face fiscal cliff as much as what is happening in afghanistan and iraq, and the drawdown. i have to call the pentagon and see if they'll give us a general idea on spending. we...
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elsewhere, australian miners ended lower, but defense of health care capped losses on that market. that's all from me. back to you. >> all right, thanks for that. >>> spanish police and protesters have been clashing in madrid last night as a demonstration turned violent. thousands descended on the country's parliament demanding fresh elections and an end to cuts and tax hikes. strike organizers have called for fresh protests. >> the pressure continues to pile on spain's government. andalucia has become the latest region to say it may request government aid. speaking to reporters last night, the prime minister said he couldn't say at the moment whether he would ask for a full sovereign bailout. meanwhile, the head of catalonia has called an early election for november. they are pressing for independence saying it's had enough of propping up the region's poorer regions. >>> the bank of spain has shrunk at a significant rate. this as confidence continues to deteriorate. the financial markets are putting pressure on spain's finances. >> there's a tone in there that suggests the contrac
elsewhere, australian miners ended lower, but defense of health care capped losses on that market. that's all from me. back to you. >> all right, thanks for that. >>> spanish police and protesters have been clashing in madrid last night as a demonstration turned violent. thousands descended on the country's parliament demanding fresh elections and an end to cuts and tax hikes. strike organizers have called for fresh protests. >> the pressure continues to pile on spain's...
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one viewer says romney was in command trhful a georgia net tick, obama was defensive, evasive and tired. incoming president always has the disadvantage of being really busy running the country, as well. but thanks so much for your comments. do continue to write in and let me know what you think. that's it for today's show. thanks so much for watching "worldwide exchange." appreciate your company. >>> good morning. today's top stories, a clash of the candidates. president obama and mitt romney square off on policy differences including taxes, spending, entitlements, health care, education and more. it was a late night for everyone. in global market news, the ecb set to announce it latest policy decision. plus on the corporate front, 3m drop as deal for office products amid antitrust concerns and hp shares drop to a nine year low following a disp appointing outlook. it is thursday, october 4th, 2012, "squawk box" begins right now.
one viewer says romney was in command trhful a georgia net tick, obama was defensive, evasive and tired. incoming president always has the disadvantage of being really busy running the country, as well. but thanks so much for your comments. do continue to write in and let me know what you think. that's it for today's show. thanks so much for watching "worldwide exchange." appreciate your company. >>> good morning. today's top stories, a clash of the candidates. president...
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and a health care company ] ceradyne had been like all the defense contractors. more downgrades of defense contractors. anyone who knows this company knows they're an innovator. but when you're pulling back on the military, pulling back on cera dyne. >> accretive by a penny? >> lowered -- remember they said the goals became stretch goals. and the stock didn't get hit. this is an example after what we talked about at the beginning of the show. there's no real momentum there. >> deutsche is looking at ibm taking their price target up. >> another stock that's a huge dow leader. what i would tell you here is that this stock has very little resistance. accenture last week reported, these are remarkable. ibm has a mainframe cycle, too. the consulting companies are on fire because they save companies money whenever they bring them in. >> finally, i think we have time for credit suisse going to a sell on nokia. >> nokia, i'm trying to figure out where it stops. i could do one of those, mow, larry, curly things where i go on the floor. but i do think that nokia has minima
and a health care company ] ceradyne had been like all the defense contractors. more downgrades of defense contractors. anyone who knows this company knows they're an innovator. but when you're pulling back on the military, pulling back on cera dyne. >> accretive by a penny? >> lowered -- remember they said the goals became stretch goals. and the stock didn't get hit. this is an example after what we talked about at the beginning of the show. there's no real momentum there. >>...
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so they had somewhat defensive tendencies back then. so i really don't think it's essential to see leadership from the transportation sector. i'd really prefer to see frit the technology sector, which we have seen. >> walk us through what is leading -- and also, in terms of small caps, things with a little higher volatility that people tend to look to as canaries. >> right. so small caps -- and i'd also highlight emerging markets as having captured some performance recently. if you look at the emerging market shares, they've really lost momentum. i think investors will ultimately be seek out performance there because they're less overbought than the u.s. market. >> i heard you suggest that it was a buying opportunity. i didn't quite catch the level that you were targeting on the s&p. how high do you think we can bounce? >> well, 1420 is initial support and the breakout that we saw recently targeted about 1530, although the next resistance that it faces is up at the 2007 high. >> 1530 is 100 points higher than we are now. >> it is. and i
so they had somewhat defensive tendencies back then. so i really don't think it's essential to see leadership from the transportation sector. i'd really prefer to see frit the technology sector, which we have seen. >> walk us through what is leading -- and also, in terms of small caps, things with a little higher volatility that people tend to look to as canaries. >> right. so small caps -- and i'd also highlight emerging markets as having captured some performance recently. if you...
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once in the organization and another plays defense. it is not the bears' defense. it is more the jets. you know what they are? they are on the punt pass. the season is over. >> two games left. >> there's a pup blast, a physically unable to perform list and microsoft is on the pup list. hewlett-packard is on there, dallas i.r. is there. >> are they career-ended injuries? >> come on, microsoft has a 3% dividend yield. >> sanchez just has to complete 3% of his passes. >> just keep going. >> i want to go with the man -- people didn't go for this. i'm going football metaphors. >> i thought it stayed on so i wasn't following. >>> let's talk american airlines. american airlines has temporarily grounded eight plans evaluated after seems became loose on two lanes in the last few dids. the investigators are the latest setback for america. they have been hurt in flight delays and cappslations causing travel agents to book flights with other airlines. of course, there a bitter dispute going on and a lot of the delays are pilot differentiated. americans lost could really be a g
once in the organization and another plays defense. it is not the bears' defense. it is more the jets. you know what they are? they are on the punt pass. the season is over. >> two games left. >> there's a pup blast, a physically unable to perform list and microsoft is on the pup list. hewlett-packard is on there, dallas i.r. is there. >> are they career-ended injuries? >> come on, microsoft has a 3% dividend yield. >> sanchez just has to complete 3% of his passes....
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. >> in illinois today, europe begins its defense of the ryder cup. four matches this morning and four more matching in the afternoon. rory mcilroy and graham mcdowell within the first to tee off against jim furyk and snedeker. >> so we're hoping for him. no tiger/rory match-up today. and you remember somebody -- norman said that rory mcilroy intimidating tiger. nobody intimidates tiger. >> you would. >> i don't intimidate tiger or his caddie. he got rid of that thug. i think he's now with adam scott. but then the guy said adam scott won some average tournament and he said it was the greatest caddying game. i think he's a kiwi, isn't he? anyway, now today's weather forecast. alex wall larks i was trying to find out when on nbc the ryder cup starts today. >> i'll find out. >> alex, you're a renaissance man. you don't just know about rain, do you you? is there rain in illinois? how about that? >> it looks like the rain will be sinking just south of illinois, maybe a few showers this morning. but later today should be a little drier. >> who is it on toda
. >> in illinois today, europe begins its defense of the ryder cup. four matches this morning and four more matching in the afternoon. rory mcilroy and graham mcdowell within the first to tee off against jim furyk and snedeker. >> so we're hoping for him. no tiger/rory match-up today. and you remember somebody -- norman said that rory mcilroy intimidating tiger. nobody intimidates tiger. >> you would. >> i don't intimidate tiger or his caddie. he got rid of that thug. i...
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think there is an appreciation that you don't do it, you sta a start off with cuts, 50 billion from defense, 50 billion from important programs. nobody comes ahead from either side of the aisle and certainly the american public does not come out ahead. >> you have built a very successful firm, gotten very nice press lately at center view. while the industry has been suffering to say the least. what do you make of 2013 as we head into it? i hear that we're going to see so many big investment banks still need to cut both compensation and perhaps head count. >> so clearly the industry remains in a period of transition. it's been like this for a few years. but i think it's important to recognize that this industry has always had periods of transition. just in my career, 25 years, i can think of three different cycles. the industry always comes out on top on a competitive basis globally. i do think we still have the most intellectual capital anywhere in the industry. the most innovation. and you already see firms doing what they should do to get to the right place. they're focusing on businesses
think there is an appreciation that you don't do it, you sta a start off with cuts, 50 billion from defense, 50 billion from important programs. nobody comes ahead from either side of the aisle and certainly the american public does not come out ahead. >> you have built a very successful firm, gotten very nice press lately at center view. while the industry has been suffering to say the least. what do you make of 2013 as we head into it? i hear that we're going to see so many big...
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defense seems to be coming off. and that could be related to the drawdown, what's happening in afghanistan and iraq or more broadly early fiscal cliff, signs there. business investment up just 1.1% after declining really for two straight months. john says these numbers stink. he says these orders data are putrid. we believe that weakness is tied to problems in asia and europe as well as uncertainty over the tax environment for 2013. and then we turn to the other side, the better claims data. now, notice it moves it just a little bit, but along with more optimism in the jobs component, the claims data is the second piece of good news this week on the employment front. weekly claims falling by 26,000 to the lowest level since late july. got to have a little caution here, comes on the heels of a bump up in claims from hurricane isaac and, of course, other factors that are out there. something for candidates romney and obama in today's data. you can imagine romney pounding on the weak growth and obama saying hey, 286,00
defense seems to be coming off. and that could be related to the drawdown, what's happening in afghanistan and iraq or more broadly early fiscal cliff, signs there. business investment up just 1.1% after declining really for two straight months. john says these numbers stink. he says these orders data are putrid. we believe that weakness is tied to problems in asia and europe as well as uncertainty over the tax environment for 2013. and then we turn to the other side, the better claims data....
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i've put forth michigan and illinois as defense that plan doesn't work well in the long-term. >> all right, rick, thank you very much. just a couple of quick headlines that are coming out from the draghi conference, steve, i'll run through these with you, you can tell me the most important, talk about inflation expected to stay above 2% in 2012, money growth remaining subdued, economic growth to remain week, no shocks on any of these things. he says the omt decision helped alleviate tensions in recent weeks and that it is now essential that governments keep implementing steps to try and reduce imbalances. >> right, so he needs the spanish government to request this so he can do what he believes what needs to be done. that's why he's not independent anymore. above 2% inflation forecast may explain why the ecb defied some forecasts and not cut rates, brought that from 75 down to 50 or parody with the federal reserve. i think part of the problem is that the euro has been as strong as it's been. >> also saying the council firmly committed to preserving singleness of monetary policy. >> h
i've put forth michigan and illinois as defense that plan doesn't work well in the long-term. >> all right, rick, thank you very much. just a couple of quick headlines that are coming out from the draghi conference, steve, i'll run through these with you, you can tell me the most important, talk about inflation expected to stay above 2% in 2012, money growth remaining subdued, economic growth to remain week, no shocks on any of these things. he says the omt decision helped alleviate...
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elsewhere, australia miners ended lower, but defensive headquarters capped loss on that market. india's index lowered by about .4 of a percent. >>> let's get over to london now and the latest out of europe. kelly evans is standing by with that. kelly, what can you tell us about some of the chaos there? >> becky, good morning. pretty much get a sense from looking behind me, it's great to see her, by the way, on your program. usually we just get to hang out on "worldwide exchange." you'd be hard pressed to find stocks in the green. there's a couple over there, but really not too many to mention. this is a pretty broad-based selloff. for the most part. we can take a look at the ftse 100. now greater than 1% on the morning. dax down 1.5%. cac shedding nearly 2% at this point. spain's ibex down 2.65%. this is where some of the real action has been. i almost don't need to do anything else but show you this chip and that can give you a sense of what's happening in markets. we've seen concerns about the health of different regions of spain drawing on the sovereign's finances. that start
elsewhere, australia miners ended lower, but defensive headquarters capped loss on that market. india's index lowered by about .4 of a percent. >>> let's get over to london now and the latest out of europe. kelly evans is standing by with that. kelly, what can you tell us about some of the chaos there? >> becky, good morning. pretty much get a sense from looking behind me, it's great to see her, by the way, on your program. usually we just get to hang out on "worldwide...
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>> we had a pretty darn good economy when we were playing bill clinton's tax rates and then it cuts defenses we haven't done in 30 years and entitlement programs. >> there's a few on the left that admit that going back to the clinton tax rates is not just for people who are 250, it's for everyone. >> i agree with that. >> $200 billion in the middle class from the bush tax cuts and $100 billion from the payroll tax cut -- >> it would do a lot. >> we should take our medicine, we should do it. >> that's where i think you're right. we have to -- any politician who says democrat or republican, we're going to get out of this without suffering some pain -- >> that's what we're hearing from paul krugman who says any democrat that goes along with the simpson/bowles. >> only for one reason, you shouldn't raise the -- you shouldn't raise the eligibility for medicare to 67. that makes no sense at all. but otherwise -- >> why doesn't it? >> because medicare is the only universal health care plan that we have in this country. and to raise it at the time when people are retiring is insane. and furthermore,
>> we had a pretty darn good economy when we were playing bill clinton's tax rates and then it cuts defenses we haven't done in 30 years and entitlement programs. >> there's a few on the left that admit that going back to the clinton tax rates is not just for people who are 250, it's for everyone. >> i agree with that. >> $200 billion in the middle class from the bush tax cuts and $100 billion from the payroll tax cut -- >> it would do a lot. >> we should...